Reporting Form SRF 332.0

Expenses

Instruction Guide

This instruction guide is designed to assist in the completion of Reporting Form SRF 332.0 Expenses (SRF 332.0).

General directions and notes

Reporting level

SRF 332.0 must be completed by the RSE licensee for each RSE, defined benefit RSE, PST and ERF.

Reporting tables

Tables described in this reporting form list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.

The Unique identifier column indicates which field or fields form the primary key of the table. Where a field has ‘Y’ in the Unique identifier column, this denotes that this field forms part of the primary key for the table. A blank cell in the Unique identifier column means that the field does not form part of the primary key for the table. Any specific combination of values in the fields that form the primary key of a table must not appear on more than one row in that table when reported.

Information required

An RSE licensee must complete SRF 332.0 applying the materiality thresholds, for each reporting period ending on or after 30 June 2021 but before 30 June 2022. Report expenses on a look-through basis, as explained under Reporting basis and unit of measurement in these Instructions.

The materiality thresholds are:

Where total expenses with a service provider are greater than or equal to 5 per cent of total expenses for that expense group: the expense must be reported. If the expense is used for the purpose of more than one expense type, then apportion the expense between these expense types as appropriate.
Where the total paid to a service provider is less than 5 per cent of total expenses for that expense group: Expenses with multiple service providers below this threshold for each expense type can be aggregated. Report the service provider description in Table 1 as ‘multiple providers below 5%’.
Where the total expenses with a service provider are $10,000 or less, and the classification is unavailable: classify the expense in the expense group ‘Other’, so long as the total amount reported in the expense group ‘Other’ for this reason does not exceed 5 per cent of total expenses reported in Table 2.

The RSE licensee cannot apply a materiality threshold to any expenses with service providers which are:

classified by the RSE licensee as significant expenditure under Prudential Standard SPS 515 Strategic Planning and Member Outcomes;
payments to a related party; or
used for the purpose of the following expense types:

    Marketing related expenses (including: Advertising or Marketing, Existing Member Campaigns, Member Acquisition Campaigns, and all expense types under Marketing And Distribution (expense group));
    Sponsorship;
    Payments Or Donations To Industry Bodies;
    Payments Or Donations To Political Parties;
    Payments Or Donations To Trade Bodies.

An RSE licensee must complete SRF 332.0 for all expenses in respect of each reporting period ending on or after 30 June 2022.

Reporting basis and unit of measurement

RSE licensees must report all items on SRF 332.0 in accordance with the Australian Accounting Standards unless otherwise specified.

The total service arrangement cost amounts and total service arrangement investment cost amounts reported in SRF 332.0 should reflect the total expenses in the RSE, defined benefit RSE, PST or ERF’s financial statements. Amounts in SRF 332.0 should and are to be reported on an accrual’s basis.

Amounts in SRF 332.0 are to be reported on an APRA look-through basis.[6] The look-through chain will end with the expenses from the last related connected entity to the first entity that is not a related connected entity.

Amounts in SRF 332.0 are to be reported as percentages or whole numbers. Percentages are to be reported as an unconverted number to two decimal places. For example, 12.34 per cent is to be reported as 0.1234.

Items on SRF 332.0 must be reported as at the end of the reporting period or with respect to transactions that occurred during the reporting period. Unless otherwise specified, report information with respect to transactions that occurred during the reporting period.

These instructions specify the reporting basis and unit of measurement that applies to each item.

Definitions

Terms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).

Specific instructions

Table 1: Service providers

Report all service provider expenses paid over the reporting period in Table 1 on a look-through basis. If there is no related connected entity, report the receiving entity. If expenses are with a related connected entity, report the last related connected entity in the look-through chain.

Column	Field name	Unique identifier	Applicable to	Valid values	Description
1	Service Provider Identifier	Y	All filers	No more than 20 alpha-numeric characters (with no special characters)	Report the service provider identifier.
2	Service Provider Name Text		All filers	Free text	Report the name of the service provider, or for accounting expenses report the name of the accounting expense.
3	Service Provider Australian Business Number		All filers	11 digit valid ABN	Report the service provider ABN.
4	Service Provider Relationship Type		All filers	NoneParentIndirect ParentSubsidiaryIndirect SubsidiaryRSELGroup CompanyOther Related Party	Report the service provider relationship type.
5	Service Provider Shareholding Relationship Percent		All filers	Percentage to 2 decimal places	Report the service provider shareholding relationship level (relative to the RSE licensee) as a percentage.
6	Service Provider Shareholding Relationship Detail Text		All filers	Free text	Report further detail on the service provider shareholding relationship.
7	Responsible Person Service Provider Relationship Indicator		All filers	YesNo	Report whether any responsible persons of the RSE licensee have a relationship with the service provider which results in a relevant duty or a relevant interest in accordance with Prudential Standard SPS 521 Conflicts of Interest .
8	Responsible Person Service Provider Relationship Text		All filers	Free text	If responsible persons have a relationship with the service provider which results in a relevant duty or a relevant interest in accordance with Prudential Standard SPS 521 Conflicts of Interest, report details of the relationship with the service provider.
9	Service Provider Relationship Other Text		All filers	Free text	Report other relationships.
10	Service Arrangement Outsourced Indicator

Table 2: Administration and other expenses reporting

Report all administration and other (non-investment management) expenses for the reporting period in Table 2 on a look-through basis. If there is no related connected entity, report the total expenses with the receiving entity. If expenses are with a related connected entity, report the total cost amount from the last related connected entity in the look-through chain to the first entity that is not a related connected entity. For each entity in the look-through chain, report any expense not on paid to a further related connected entity. Classify the amount for each relevant expense group type and expense type for which the entity provides a service to the RSE, including the extent to which, for each related connected entity in the look-though chain, that entity’s profit is attributable to that expense amount.

Column	Field name	Unique identifier	Applicable to	Valid values	Description
1	Service Provider Identifier	Y	All filers	No more than 20 alpha-numeric characters (with no special characters)	Report the service provider identifier.
2	Superannuation Fund Or Licensee Type	Y	All filers	RSEDB RSEPSTERF	Report the RSE, DB RSE, PST or ERF indicator.
3	Expense Group Type	Y	All filers	Administration ServicesMember ServicesMarketing And DistributionTrustee OfficeCorporate OverheadsOther	Report the expense group.Where the expense is paid to the RSE licensee, the expense must be apportioned across the expense groups to which it relates.
4	Expense Type	Y	All filers	See Lists at the end of these Instructions	Report the expense type.
5	Service Arrangement Inclusions Exclusions Text	Y	All filers	Free text	Report the detail of how the service arrangement differs with particular inclusions or exclusions. For example, if the general administration service provider excludes the call centre function, highlight this here and include a separate row for the call centre function service provider under ‘member services’ service type category.If there are no inclusions or exclusions applicable to the expense, report ‘Not applicable’.
6	Service Arrangement Engagement Type		All filers	One OffOngoing	Report the engagement type.
7	Proportion Of Assets Service Provided Percent		All filers	Percentage to 2 decimal places	Report the proportion of assets to which service is provided.
8	Proportion Of Members Service Provided Percent		All filers	Percentage to 2 decimal places	Report the proportion of members to which service is provided.
9	Service Arrangement Registrable Superannuation Entity Or Member Cohort Different Cover Text		All filers	Free text	If the proportion of members to which service is provided is not 100%, report the description of the member cohort covered and / or not covered under this service arrangement.

Table 3: Investment management expenses

Report all investment related expenses for the reporting period in Table 3 on a look-through basis. If there is no related connected entity, report the total cost amount with the receiving entity. If expenses are with a related connected entity, report the total cost amount from the last related connected entity in the look-through chain to the first entity that is not a related connected entity. For each entity in the look-through chain, report any expense not on paid to a further related connected entity. Classify the amount for each relevant expense service type and asset class sector type for which the entity provides a service to the RSE, including the extent to which, for each related connected entity in the look-though chain, that entity’s profit is attributable to that expense amount.

Column	Field name	Unique identifier	Applicable to	Valid values	Description
1	Service Provider Identifier	Y	All filers	No more than 20 alpha-numeric characters (with no special characters)	Report the service provider identifier.
2	Superannuation Fund Or Licensee Type	Y	All filers	RSEDB RSEPSTERF	Report the RSE, DB RSE, PST or ERF indicator.
3	Investment Expense Service Type	Y	All filers	InvestmentCustodyAsset ConsultantImplemented ConsultantInvestment ResearchOther	Report the expense service type.
4	Investment Asset Class Sector Type	Y	All filers	CashFixed IncomeEquityPropertyInfrastructureAlternativesNot Applicable	Report the asset class sector type.
5	Investment Listing Type	Y	All filers	ListedUnlistedNot SpecifiedNot Applicable	Report the listing type of the investment.
6	Investment Domicile Type	Y	All filers	Australian DomicileInternational DomicileNot SpecifiedNot Applicable	Report the domicile type of the investment.
7	Asset Class Description Text	Y	All filers	Free text	Report the asset class further description.
8	Service Arrangement Inclusions Exclusions Text	Y	All filers	Free text	Report the detail of how the service arrangement differs with particular inclusions or exclusions. For example if the general administration service provider excludes the call centre function, highlight this here and include a separate row for the call centre function service provider under ‘member services’ service type category.If there are no inclusions or exclusions applicable to the expense, report 'Not applicable'.
9	Service Arrangement Engagement Type		All filers	One OffOngoing	Report the engagement type.
10	Investment Market Value Amount		All filers	Whole dollars	Report the market value of investments.

Lists

Expense type

The expense type options when Administration Services is selected as the expense group option are:Call Centre ServicesComplaints And Feedback HandlingElectronic Communication DistributionInsurance AdministrationIntra Fund AdviceMember Transaction ProcessingPhysical Communication DistributionRecord KeepingOtherThe expense type options when Member Services is selected as the expense group option are:Consumer TestingDigital Technology ServicesData AnalyticsExisting Member CampaignsIT Service ProviderMember Acquisition CampaignsMember Education ProgrammesOnline CalculatorsPlatform ProviderOtherThe expense type options when Marketing And Distribution is selected as the expense group option are:Financial PlannersFinancial Planning Payments To ExternalsMarketingPromoterOtherThe expense type options when Trustee Office is selected as the expense group option are:BenchmarkingDirector Training CostsDirectors FeesFees Relating To Potential MergersGeneral ExpensesOtherThe expense type options when Corporate Overheads is selected as the expense group option are:AccountantActuarial FeesAdvertising Or MarketingAmortisation And DepreciationBrokerageCapital ExpenditureComputersConferencesConsultant FeesData AnalyticsEntertainmentExternal AuditInternal AuditInvestment ConsultingIT Service ProviderLegalMotor VehiclesPayments Or Donations To Industry BodiesPayments Or Donations To Political PartiesPayments Or Donations To Trade BodiesPayrollPlatform ProviderPremisesProfessional IndemnityProfitRecruitmentRegulatory LeviesResearchSponsorshipTax Agent FeesTrainingTravelValuationOtherThe expense type option when Other is selected as the expense group option is:Other

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